If you could go back in time to when you were a new trader

[TheGreatGorilla]

The whole original post was about money management and discipline, I have no idea why this has been blown out of context so much.

It's just not even worth it anymore.

 

[R. Raskolnikov]

This sounds an awful lot like jealousy (emerging out of frustration and anger) to me. It's only natural, when you want something so badly and have put a ton of work into it and cannot get the results that someone else does. It's totally understandable.

Quote from dbphoenix:

I don't think jealousy is an issue. More likely that whatever one has tried hasn't lasted. This is often the case with formulas of one sort or another and automated trading. It all requires attention, like an old boiler, and if one has been doing it for years and has yet to gain any traction, much less earn a living off it, one can become extremely frustrated and even angry, which accounts for most of the hostility one encounters on message boards.

 

[TheGreatGorilla]

Quote from R. Raskolnikov:

This sounds an awful lot like jealousy (emerging out of frustration and anger) to me. It's only natural, when you want something so badly and have put a ton of work into it and cannot get the results that someone else does. It's totally understandable.

Don't patronize me.

Your supply and demand strategy is nothing more than support and resistance, you just try and make it sound profound and groundbreaking.

 

[dbphoenix]

Quote from R. Raskolnikov:

This sounds an awful lot like jealousy (emerging out of frustration and anger) to me. It's only natural, when you want something so badly and have put a ton of work into it and cannot get the results that someone else does. It's totally understandable.

That can be dangerous since one can never know what somebody else's results are unless they post their trading plan and, preferably, post their trades in advance. If those who get angry about the results of others would only keep in mind that so much of it is just made up, they wouldn't get so angry, if at all. And anger isn't the sort of thing one should be holding on to at the beginning of the session.

 

[R. Raskolnikov]

Absolutely

Quote from dbphoenix:

That can be dangerous

 

[siki13]

Quote from dbphoenix:

strict rules that are derived from thorough testing -- back, forward, and real-time -- are necessary, and the stricter the better.

Reading only trough a couple of pages i must have got the wrong impression then .
Are these strict hard rules that you then only follow and trade presented somewhere in your 300+ page thread ?

 

[Lights]

Quote from dbphoenix:

Thoroughly-tested and consistently-profitable plans, yes. And, as I suspected, the gorilla doesn't have one. Which is why he believes that "nothing lasts".

You missed the point. Every disciplined strategy/plan works at some point and then doesn't. After some time, it does again. Markets are just a mechanism which cycles participants and measures human adaptability. Most people are too stubborn to change and lose everything because as they experience a modicum of success, they increase their bet sizes usually thru margin while believing that their preconceptions will always persist. As bet sizes increase, so does stubbornness. The churning of participants is just as predictable as price.

 

[Lights]

Quote from dbphoenix:

I assume you meant why am I trying to convince everyone? And I'm not. I responded to Light's assertion that trading methods (or approaches or systems or whatever) don't last. You took it from there. We can drop this anytime, lols and all.

You misquoted me. I never said that a trading method won't last forever. I said they are not continuous and this is because a strategy is less effective as more participants are participating in it. It's musical chairs.. by the time most are smoked out, it resets and it can retain it's use.

Every methodology has worked at some point in the past and will in the future. Every methodology has failed at some point in the past and will fail in the future.

 

[R. Raskolnikov]

You assume that every trading plan is eventually revealed to the general public, which is just not the case.

Quote from Lights:

I never said that a trading method won't last forever. I said they are not continuous and this is because a strategy is less effective as more participants are participating in it. It's musical chairs.. by the time most are smoked out, it resets and it can retain it's use.

 

[Lights]

Quote from R. Raskolnikov:

You assume that every trading plan is eventually revealed to the general public, which is just not the case.

Unless there is an alternative to buying, selling or not doing anything.. then the public has already seen every permutation.